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Suppose a country surveys households and nds that 140 million people can be classied as being employed and 7 million people can be classied as

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Suppose a country surveys households and nds that 140 million people can be classied as being employed and 7 million people can be classied as being unemployed. The unemployed are people who do not have jobs but are actively looking for work. Given this information, what do we know about the unemployment rate for this country? 'The unemployment rate for this country is [3%. (Round your response to two decimal places.) Suppose this country has a natural rate of unemployment equal to 4.26%. What do we know about the size of the output gap. Y Y\". in this country? The output gap in this country is D million units. (Round your response to two decimal places and use a negative sign if necessary.) Now suppose this country has an or = 0.75 0. What do we know about the change in ination. It n( 1). in this country between the previous year and this year? The change in inflation is D percent. (Round your response to two decimal places and use a negative sign if necessary.)

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